A Setback for the Reconquista

A Setback for the Reconquista

Brazil

A few months ago, Argentina was the focus of national attention in Spain when anguished Madrileños from taxi drivers to investors debated whether their country's reconquista of the old colonies in Latin America in the 1990s had been a colossal folly. The angst on the streets has subsided since then but investors continue to express their discontent on the stock market as volatility in the region continues unabated. Spain's companies and banks have put recovery plans in motion but face more turbulence ahead. Nevertheless they remain convinced Latin America offers their shareholders good returns on equity in the long run.

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